Tower Research Capital LLC TRC Purchases 89,834 Shares of Citigroup Inc. (NYSE:C)

Tower Research Capital LLC TRC grew its stake in shares of Citigroup Inc. (NYSE:C - Free Report) by 189.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,218 shares of the company's stock after purchasing an additional 89,834 shares during the quarter. Tower Research Capital LLC TRC's holdings in Citigroup were worth $9,659,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in C. Core Alternative Capital raised its holdings in shares of Citigroup by 83.4% during the fourth quarter. Core Alternative Capital now owns 376 shares of the company's stock valued at $26,000 after buying an additional 171 shares during the last quarter. Webster Bank N. A. raised its stake in Citigroup by 150.0% during the 4th quarter. Webster Bank N. A. now owns 500 shares of the company's stock valued at $35,000 after acquiring an additional 300 shares in the last quarter. Creative Capital Management Investments LLC bought a new stake in Citigroup during the 4th quarter valued at $35,000. Sierra Ocean LLC acquired a new position in Citigroup during the 4th quarter worth $37,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Citigroup during the fourth quarter valued at $39,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Citigroup news, COO Anand Selvakesari sold 30,000 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.10, for a total value of $2,433,000.00. Following the transaction, the chief operating officer now owns 229,180 shares of the company's stock, valued at approximately $18,586,498. The trade was a 11.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mason sold 58,465 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $83.21, for a total value of $4,864,872.65. Following the completion of the sale, the chief financial officer now owns 217,331 shares of the company's stock, valued at approximately $18,084,112.51. This trade represents a 21.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 over the last quarter. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Citigroup from $85.00 to $78.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Morgan Stanley lowered their price target on Citigroup from $110.00 to $109.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Piper Sandler restated an "overweight" rating and issued a $77.00 price objective (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Truist Financial dropped their price target on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. reduced their price objective on Citigroup from $85.50 to $75.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Citigroup currently has an average rating of "Moderate Buy" and an average target price of $84.61.

Citigroup Stock Performance

NYSE:C traded up $1.84 during trading hours on Wednesday, hitting $66.39. 17,228,040 shares of the company traded hands, compared to its average volume of 14,432,985. The firm has a 50-day moving average of $70.40 and a 200 day moving average of $71.01. Citigroup Inc. has a twelve month low of $53.51 and a twelve month high of $84.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $124.96 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 0.64 and a beta of 1.29.

Citigroup (NYSE:C - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.12. Citigroup had a return on equity of 6.62% and a net margin of 7.43%. The firm had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. On average, analysts forecast that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup declared that its Board of Directors has authorized a share buyback program on Wednesday, January 15th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Citigroup Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 5th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Monday, May 5th. Citigroup's dividend payout ratio is 35.39%.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.